Unikrn, an preliminary coin providing, or ICO, from 2017, faces motion from the U.S. Securities and Change Commision, or SEC. 

The SEC has accused the startup of operating its ICO with out going by the correct authorized channels, based mostly on a Sept. 15 statement from the regulating physique. The fee claims Unikrn provided an unregistered funding alternative. 

“Unikrn agreed to settle the fees by paying a $6.1 million penalty, considerably the entire firm’s belongings, to be distributed to buyers by a Honest Fund,” the assertion mentioned. 

Unikrn made headlines again in 2017 when Dallas Mavericks proprietor Mark Cuban invested within the mission.